Year 2026 Tax Update

General Description:

This comprehensive federal Tax Update will cover all new tax legislation, including a comprehensive review of the changes made by TOBBB including subsequent regulatory guidance; other new tax legislation including the Clergy Act of 2026; and other new regulations, cases, and rulings in all areas of federal taxation.

Learning Objective:

After completing this course the participant will be able to:

• Describe the legislative changes made by TOBBB including all regulatory guidance which affects bonus depreciation, Trump Accounts (including the pilot program and how to claim a Trump Account), phaseout of itemized deductions, cutback on charitable contributions for individuals and corporations, charitable contribution deduction for non-itemizers, minimum deduction under §199A, and the latest on tips, overtime, and auto loan interest.
• Discuss retirement changes and increased funding limits for retirement plans in 2026, as well as the federal government matching contribution which is effective in 2027.
• Discuss the latest guidance on digital assets, including proposed legislation on theft losses and how to claim a theft loss as a business loss.
• Describe the options for distributions from qualified plans and IRAs and proposed regs.
• Explain new developments that affect S corporations and partnerships including the PTE election and requirements for Form 8308 and Form 7217, as well as the effect of filing a $0 tax return.
• Review the rules on sale of a principal residence as well as the tax effect of the sale or exchange of a principal residence after nonqualified use, pursuant to a divorce or separation, or after the death of the owner.
• Discuss the current status of the return preparer rules, e-filing requirements, and PTINs.
• Describe the latest developments in IRS procedures and practices, including proposed changes to Circular 230, and the use of AI for complying with substantial authority and a reasonable basis.
• Discuss the recent changes in the estate & gift tax rules, including when a gift tax return is required to be filed when money is contributed to a Trump Account.
• Discuss recent developments in employment and self-employment tax, including the current status of SE income for members of an LLC.

Instructors:

Mark A. Vogel is a retired professor and director of the University of Denver Graduate Tax Program, where for 38 years he taught courses in individual, fiduciary, tax accounting, partnership, and corporate taxation. He is the author of Divorce Taxation Guide (John Wiley & Sons) and Individual Taxation (Shepards/McGraw-Hill). He received a J.D. and LL.M. in Taxation from the University of Denver College of Law and an undergraduate accounting degree from the University of Notre Dame. He is also a CPA licensed in Illinois.

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